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In the NJ Midtown Direct Trainline Towns, 95 Homes Have Gone Under Contract In Past Two Weeks!

Over the past two weeks,  did you notice how many homes in our NJ Midtown Direct Trainline Towns are selling????  

 

I just went into GSMLS and searched all homes in  Millburn, Short Hills, Summit, Chatham, Madison, Maplewood, South Orange and Livingston, and found that 95 homes have gone under contract in the past two weeks. This does not include all of the ones that are in attorney review! 

Compare This To the last 2 weeks of  March, where only 45 homes went under contract in these towns, and the last 2 weeks of February where there were only 18 homes to go under contract.

Why now??

Move up Buyers finally are selling their existiing homes and there is finally enough inventory for them to want to make the upward move.

MORE  NJ Sellers are pricing right, staging their homes and listing with Realtors who are creating a sense of urgency for them  ( yes, shameless plug) , so those 95 homes are selling, while others remain sitting. 

The RATES-  I just refinanced at 4.625%.  How long do you think they’ll stay below 5%?

Its Spring!  The clock is ticking to get in for the school year – beats the 30k per year private school tuition.  The 3rd baby has been born and the 1 bedroom apartment won’t work anymore, etc… life goes on.. you get the picture.

 

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This entry was posted on Saturday, May 2nd, 2009 at 5:58 pm and is filed under Buying a home in this market, Chatham, Livingston, Madison, Maplewood, Market Updates, Stats & forecasts, Millburn-Short Hills, Real Estate, Selling a home in this market, South Orange, Summit. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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